Hypothetically, say the loans were still with Great Southern Finance and never ended up in Bendigo's book. Would the outstanding dollars vanish along with Great Southern? Who would the loans need to be paid to?
Also, surely if Bendigo bought the loans for Xc in the dollar from GSF, they would be satisfied with a settlement of this value from all outstanding monies.
Perhaps this is why the bad debt provision is only 10% (?) of the total book value, as this is what the loans cost them....
worried about what ?--and further more, page-35
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